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Anthropic showcased Claude's chip design capabilities to attract IPO investors and potentially enter the multi-billion dollar chip design tool market. The company's 15-person in-house chip development team has already used Claude in actual engineering designs, with some tasks completed in less time than estimated by traditional chip manufacturers like Nvidia and AMD. On November 3, shares of chip design software giants Synopsys and Cadence fell by about 4% at one point during trading. OpenAI is also using its own models to assist in the development of the Jalapeño chip and has signed a multi-year cooperation agreement with Synopsys.